政府干预、绿色金融和区域创新能力——来自30个省份面板数据的证据

Government Intervention,Green Finance and Regional Innovation Capability——Evidence from Panel Data of 30 Provinces

本文采用“中国区域创新能力综合效用值”作为被解释变量,基于熵值法和政府财政干预模型测得的绿色金融指数和政府干预作为解释变量,并通过构建动态面板系统GMM模型和空间杜宾模型研究2007—2019年30个省份的政府干预和绿色金融对地区创新能力的影响。研究发现:绿色金融能显著提升区域创新,政府财政干预则会抑制区域创新,而两者对区域创新的联合影响为负。同时,基于经济空间权重矩阵,一省绿色金融对他省的区域创新发展具有负向空间传导效应,而政府干预则具有显著的正向空间传导作用。经过分地区空间杜宾模型分析,发现东部地区政府干预的空间效应消失;而西部地区绿色金融对区域创新的推动效应和变量的空间效应并不显著。

This paper adopts the“comprehensive utility value of China s regional innovation capability”as the explained variable,and green finance index and government intervention based on the entropy method and the government financial intervention model respectively as explanatory variables,and a dynamic panel system GMM model and spatial Durbin model were constructed to study the impact of government intervention and green finance on regional innovation capacity in 30 provinces in China from 2007 to 2019.The study found that green finance can significantly enhance regional innovation,while government financial intervention can inhibit regional innovation,and the combined effect of the two on regional innovation is negative.At the same time,based on the economic space weight matrix,green finance in one province has a negative spatial conduction effect on the regional innovation and development of other provinces,while government intervention has a significant positive spatial conduction effect.Through regional spatial Durbin model analysis,it is found that the spatial effect of government intervention in the eastern region disappears while the promotion effect of green finance on regional innovation and the spatial effect of variables in the western region are not significant.